DAVENPORT & Co LLC Raises Stock Holdings in Kenvue Inc. (NYSE:KVUE)

DAVENPORT & Co LLC lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,684 shares of the company’s stock after acquiring an additional 1,679 shares during the period. DAVENPORT & Co LLC’s holdings in Kenvue were worth $8,268,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kenvue by 13.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 62,687 shares of the company’s stock valued at $1,140,000 after buying an additional 7,564 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Kenvue by 7.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,278 shares of the company’s stock valued at $496,000 after acquiring an additional 1,838 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Kenvue during the 2nd quarter worth approximately $3,859,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Kenvue by 6.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after purchasing an additional 492 shares during the last quarter. Finally, AMF Tjanstepension AB grew its position in Kenvue by 187.3% in the 3rd quarter. AMF Tjanstepension AB now owns 120,477 shares of the company’s stock valued at $2,787,000 after buying an additional 78,540 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. Barclays lowered their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average price target of $23.08.

Kenvue Stock Down 2.0 %

Shares of NYSE:KVUE opened at $21.29 on Monday. The stock’s fifty day simple moving average is $21.90 and its 200-day simple moving average is $21.92. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market capitalization of $40.82 billion, a P/E ratio of 38.71, a P/E/G ratio of 2.05 and a beta of 1.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.